Bitcoin is the most famous crypto of all time

Bitcoin is the latest buzz in the world of the investor as the first digital currency. Bitcoin is a digital currency that is completely decentralized and where transactions and exchanges can be made without any third-party assistance.

Bitcoin or BTC is the most valuable currency coming under the market umbrella of cryptocurrencies. Bitcoin works on the technology of stablecoin, which is a linked body of blocks containing data of each and every transactional details. Blockchain has entries registered in chronological order in the constantly getting created (by the miners) chain of blocks. The data of these blocks is accessible to anyone who wishes to view it, which means it is a public ledger of all the cryptocurrency transactions

The roots of the invention of Bitcoin go back to the devastating economic recession of 2008. Credentials for inventing Bitcoin go to a pseudonymous personality named Satoshi Nakamoto. Bitcoin is the result of the vision to have an electronic payment system that works upon cryptographic proof. This is a revolutionary currency that ensures the transactions are not reversed or meddled by third parties such as the government, banks, or any other political or social powers. Since 2008, Bitcoin has suffered tremendous losses and climbed new heights. The journey to becoming the most valuable cryptocurrency is commendable!

What makes Bitcoin so desirable and different from other cryptocurrencies?

A sound Monetary asset

Bitcoin is the oldest creationof cryptocurrencies. In April, the price of Bitcoin rises to $60,000. This spike in the value of Bitcoin was the talk of the town. Bitcoin is the oldest and highest valuable currency that is looked at by most investors. The absolute scarcity of the supply of bitcoin is one of the important factors making it to be unique among other digital currencies. The availability of Bitcoin is only up to $21 million. The mark of 21 million is still far from sight and will only be achieved by 2140. The number of 21 million signifies that Bitcoin’s fixed supply chain will never be changed or meddled with. This fixed supply insurance can only be altered or changed only by the network operators. The demand for Bitcoin will keep increasing, and as supply is limited to 21 million that means, the value or the price of Bitcoin will keep rising over a period of time.

No third-party Assistance

Bitcoin stems from the apocalyptic recession of 2008. The first and foremost feature of Bitcoin is a Decentralized digital economy. Bitcoin works on the technology of blockchain. When a block is added, the transaction can be viewed by anyone, which acts like a public ledger. Bitcoin can never be governed or controlled by any social or political entity. As all the transactions are available on a public ledger, it makes it immensely hard to reverse the transaction or reduces the chances of faking the transaction almost to zero. The whole idea of no backing by any government or designated institution and access to transaction details might sound risky and crazy, but this makes Bitcoin to be the most trustworthy cryptocurrency. The base protocol of Bitcoin can never be manipulated, altered, or changed by single individual or other social and political powerful sources.

Legitimate source of SoV

Within the time span of 12 years, Bitcoin has grown to over $1 trillion in market capitalization. We can say that it is the most reliable SoV (Source of value). The network of Bitcoin is effective and stronger, which has made Bitcoin the oldest and the highest value holder in the world of digital cryptocurrencies. None of the other cryptocurrencies were able to touch the mark of the mass adaptation of Bitcoin.

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The Bottom Line

The most crucial factor to look upon while investing in cryptocurrencies is to check for the margins of SoV (Source of Value). There is no comparison between Bitcoin’s economic value and technical principles. These were the list of certain factors adhering to the constant supremacy of Bitcoin among all the cryptocurrencies. Bitcoin is the winning bet to begin in the world of cryptocurrency.